In competitive markets a surplus or shortage will cause

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In competitive markets, a surplus or shortage will cause:

a) changes in the quantities demanded and supplied that tend to eliminate the surplus or shortage.

b) cause changes in the quantities demanded and supplied that tend to intensify the surplus or shortage

c) never exist because the markets are always at equilibrium.

d) cause shifts in the demand and supply curves that tend to eliminate the surplus or shortage.

Reference no: EM131240525

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